I never, ever buy extended warranties on low-cost items. Yes, the MBP is a low-cost item. Most people (pay attention to that caveat of "most people") who do, end up paying far more for warranties than they would for repairs—over time. Now, with something complex and expensive it makes sense, like a new car. A washer, a computer, a wifi router, no, no and no. It's easy money for the company providing them. But even then, my last car, I didn't buy the extra warranty. And you know what? It's fine. It's been fine for a long time. Same with all but one other car, which turned out to be a real problem child and I'll mention it in the second paragraph.
Most quality products come with a year warranty anyway, including the MacBook Pro. A lot of stuff that happens systemwide ends up being covered even past that (like the delaminating 2014/15 screens and 2016-2018 butterfly keyboards). Example: I own this car (mentioned above), it's broken down four freakin' times. Only one time was the repair something not on a recall where I had to pay for the repair, the other three were covered by the manufacturer well past the initial warranty. If I had bought their $5,000 extended warranty I wouldn't have had to pay for that one $900 repair. So, I'm still up $4,100 on that decision since even that warranty would be expired now.
I get it for someone who just wants to have that peace of mind for, what is it, three years? If that's worth it to you and you're a worrier, fine, but I want to point out that in the long run you are wasting some money if you do this all the time. Companies wouldn't offer these warranties if they weren't profitable.